Team Angels launches to back early-stage startups in Mumbai

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Tech Entrepreneurs Association of Mumbai (TEAM) has launched Team Angels, a founder-led initiative to invest in early-stage startups building in Mumbai. 

The initiative offers equity funding ranging from ₹40 lakhs ($45,000) to ₹1.5 crore ($175,000) along with mentorship from top tech founders in Mumbai. 

Participants will also benefit from a structured week of masterclasses and lessons led by prominent figures in India’s tech industry.

To be considered, Team Angels said startups headquartered in the Mumbai Metropolitan Region, including Thane, Panvel, and Kalyan, from any sector or stage can apply. 

The most important factor is the strength of the founding team, with a focus on clarity of thought, speed of execution, past achievements, and current traction, according to the FAQ page. 

“Paying it forward”

Team Angels said its core vision is to transform Mumbai into a leading hub for tech startups by providing knowledge, capital, and support to more high-quality companies to start or relocate to the city.

“As founders who’ve walked the path, we’re passionate about paying it forward,” said Nazara CEO and joint MD Nitish Mittersain in a post. “TEAM Angels will provide crucial capital and high-signal mentorship to startups building in the Mumbai Metropolitan Region, from idea stage to seed. 

“Our goal is simple: to nurture the next wave of game-changers with support that goes beyond capital. 

If you’re an early-stage founder with big ambitions or know someone who is, we invite you to apply! Applications are open continuously.”